Dubai-based FIVE Holdings has secured a USD460 million revolving credit facility (RCF) as it plans a USD500 million investment over the next two years to expand its portfolio across the US, Asia, and the UAE.
The facility will also enable the group to repay debt ahead of schedule, following its USD350 million green bond issuance in October 2023, which was listed on Nasdaq Dubai.
The financing was arranged with the participation of Commercial Bank of Dubai, Arab African International Bank, and Santander.
According to FIVE Holdings, the RCF will also support the company in strengthening its presence in Ibiza and Dubai, where its portfolio includes The Pacha Group’s Pacha Ibiza Nightclub, the Pacha Hotel, and three FIVE hotel properties in Dubai.
